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Dec 4, 2012
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and i think opec has apparently been able to manage that but i think on its own, opec is unable to maintain that price if there are real pressures on the demand side. so i think the fact that we've had relative stability around 100, 110 dollars brent is a testimony not only for opec's ability to manage the price, which sink marginal, but a confluence of interests at the moment between both producers and suppliers that this meets somewhere fairly in the middle. >> peter, we've been fairly volatile. a lot of that's down it tto the o geopolitics. and i assume that's the wide card still into 2013. >> iran will be feeling vulnerable. the fact is that over the last few months, it is now producing less than iraq and i think that will increase the feeling of sensitivity on the part of iran. highlighted the threat of instability because it really hasn't got the influence of volume control, so it has to be three more public statements and issues like that. and it tends to put things in the market when there is need for a proos supporice support. >> all right. thanks for that, peter. swiss government
and i think opec has apparently been able to manage that but i think on its own, opec is unable to maintain that price if there are real pressures on the demand side. so i think the fact that we've had relative stability around 100, 110 dollars brent is a testimony not only for opec's ability to manage the price, which sink marginal, but a confluence of interests at the moment between both producers and suppliers that this meets somewhere fairly in the middle. >> peter, we've been fairly...
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Dec 12, 2012
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tensions run high at the opec meeting. the eoe says there must be a response to the oil market that's oversupplied: >> we're, of course, concerned that there will be a certain level of overproduction over the next 18 month or so if the production continues. >>> italy likely to see a strong uptick at the first bond auction after mario monti announced his intention to step down. >>> the international community blast north korea after it successfully launches a long-range rocket prompting an emergency u.n. security council meeting. >>> employment numbers out of the u.k. look strongerment remembe-- stronger. we thought there might be wider unemployment it fall. the claiming count actually down 3,000. the polls forecasting the number of people claiming unemployment benefits to rise. the jobless number down by 82,000 in the last three months through october. the rate 7.8. the employment up by another 40,000 to 29.601 million. the yen another highest on record. still no pressure from wages, average weekly earnings 1.8%. the annua
tensions run high at the opec meeting. the eoe says there must be a response to the oil market that's oversupplied: >> we're, of course, concerned that there will be a certain level of overproduction over the next 18 month or so if the production continues. >>> italy likely to see a strong uptick at the first bond auction after mario monti announced his intention to step down. >>> the international community blast north korea after it successfully launches a long-range...
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Dec 13, 2012
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. >> and in just the last few minutes, the opec secretary said he doesn't see any threat from u.s. shale product, this after the uae minister has suggested a response from the oil ministers in vienna. gary ross, welcome. >> nice to be here. >> the shale revolution in the u.s., is it a game changer as much as we're hearing from jamie dimon, arcelormittal? do you think this is going to make the u.s. energy independent, almost? >> well, we think it is. it's huge. we've statemented about 11110 billion pounds of recovery oil from shale crude. u.s. product will be going up overall, about a million barrels a day in 2013. about 65% of it will be shale crude. and it will continue to grow. >> people should understand we're not just talking about gas. we're talking about methods that's right.extract more oil. gas is clearly surplus. we're going to have l&g exports in the united states. we have a long-term growth phenomenon for natural gas. what people don't realize is how huge the oil is. when we talk about $110 billion of recovered oil, that's on 7.5% recovery rate. the resource itself is hu
. >> and in just the last few minutes, the opec secretary said he doesn't see any threat from u.s. shale product, this after the uae minister has suggested a response from the oil ministers in vienna. gary ross, welcome. >> nice to be here. >> the shale revolution in the u.s., is it a game changer as much as we're hearing from jamie dimon, arcelormittal? do you think this is going to make the u.s. energy independent, almost? >> well, we think it is. it's huge. we've...
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quality of life is on the up and up stateside we'll talk about some other economic options and the opec of maple syrup has been wrong millions of dollars worth of the hot commodity has been stolen from canada's maple syrup cartel yes cartel i said maple syrup cartel and those are not my words that's according to the new york times we'll talk about it in loose change let's get to today's capital account. the fiscal cliff charade it honestly sounds just so much like what we were hearing during the debt ceiling debate of two thousand and eleven when lawmakers were bickering and another ratings agency was threatening to drop the u.s. is aaa credit rating and then it of course did now that was met with much fanfare in the beginning but then not many direct consequences the dollar has strengthened against other currencies the u.s. has borrowed at record low rates since and maybe this whole fiscal cliff saga will play out in the exact same way and if another ratings agency in this case downgrades the u.s. so what won't matter and with events that actually do change the contours of the game we
quality of life is on the up and up stateside we'll talk about some other economic options and the opec of maple syrup has been wrong millions of dollars worth of the hot commodity has been stolen from canada's maple syrup cartel yes cartel i said maple syrup cartel and those are not my words that's according to the new york times we'll talk about it in loose change let's get to today's capital account. the fiscal cliff charade it honestly sounds just so much like what we were hearing during...
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respond with a heavy hand course what happens here has implications far beyond kuwait's borders as an opec member any sort of unrest is bound to affect oil markets the country is also a hub for the pentagon's ground forces with thousands of combat troops stationed here as a military counterweight to iran now the gulf monarchies have been struggling to fend off possible instability from the arab spring with varying degrees of success kuwait has largely seen as the most tolerant of the countries in this region but the worry is of course that the trend could be reversed recent months have seen as fleeting clashes between the position groups and security forces who have used tear gas stun grenades and rubber bullets to disperse crowds political gatherings of more than twenty people have been banned and activists are complaining of a clampdown against the center authorities and did allow thousands of protesters to gather for a peaceful rally on friday but the worry is. but the next few weeks are bound to test the limits of the government's tolerance as well as the self-control displayed by the
respond with a heavy hand course what happens here has implications far beyond kuwait's borders as an opec member any sort of unrest is bound to affect oil markets the country is also a hub for the pentagon's ground forces with thousands of combat troops stationed here as a military counterweight to iran now the gulf monarchies have been struggling to fend off possible instability from the arab spring with varying degrees of success kuwait has largely seen as the most tolerant of the countries...
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heavy hand now what happens here in kuwait has implications far beyond the country's borders as an opec member any sort of on a rest is bound to have an effect on world oil prices the country also serves as a hub for the pentagon's ground forces with thousands of american combat troops stationed here as a military counterweight to iran now the gulf monarchies as a whole have been struggling to stave off the effects of the arab spring with varying degrees of success kuwait is largely seen as the most tolerant of all the trees but the worry here is that the trend could be reversed over the past few months the country has seen increasingly violent escalating protests between the opposition and security forces with the latter using tear gas stun grenades and rubber bullets to disperse crowds political parties are banned as are political gatherings of more than twenty people and activists are claiming of a clamp down against dissent here in this country authorities did allow thousands of the opposition demonstrators to gather in a largely peaceful rally on. friday of course the coming weeks
heavy hand now what happens here in kuwait has implications far beyond the country's borders as an opec member any sort of on a rest is bound to have an effect on world oil prices the country also serves as a hub for the pentagon's ground forces with thousands of american combat troops stationed here as a military counterweight to iran now the gulf monarchies as a whole have been struggling to stave off the effects of the arab spring with varying degrees of success kuwait is largely seen as the...
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regional influence as well as this strategic importance to the west is in ments absolutely immense as an opec member anything any sort of unrest that happens on the ground here could have potential impact on the world oil market as well as global oil prices as well as the pentagon's plans to use this tiny nation as a hub for its ground forces as a counterweight to iran now kuwait already holds three american military bases and folks in washington are talking about increasing the troop presence here especially in light of the withdrawal of troops from iraq and the looming withdrawal from afghanistan now polls have officially close here in kuwait and while we won't know the results for a few more hours the opposition is already claiming a victory here saying that the boycott was successful that voter turnout was low and that the parliament therefore is illegitimate now what this means is this could spark further on rest on the streets on the ground here in kuwait as people are quite frustrated with the developments in the political system on one hand this country is considered to be one of the
regional influence as well as this strategic importance to the west is in ments absolutely immense as an opec member anything any sort of unrest that happens on the ground here could have potential impact on the world oil market as well as global oil prices as well as the pentagon's plans to use this tiny nation as a hub for its ground forces as a counterweight to iran now kuwait already holds three american military bases and folks in washington are talking about increasing the troop presence...
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as well as the rest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of an impact on oil prices as well as the pentagon's plans to use the oil rich nation as a hub for its get ground forces in order to build up a countering force to the perceived threat by iran the first wave is home to three u.s. military bases. that's the piece of. all of the withdrawal from afghanistan. you see captain of r t two eight. meanwhile in egypt thousands of islamists are rallying in support of the president there while the opposition continues to demonstrate against him mohamed morsi initially sparked public fury off to grab him so supreme power as another draft constitution his political allies approves also come under fire. from reports from cairo. protesters have been camped out into risk where since last week since egyptian president mohamed morsi if you decree granting himself sweeping new powers that kicks off a wave of protests by the more liberal sections of egyptian society not just here in cairo but in cities across the country some of those sp
as well as the rest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of an impact on oil prices as well as the pentagon's plans to use the oil rich nation as a hub for its get ground forces in order to build up a countering force to the perceived threat by iran the first wave is home to three u.s. military bases. that's the piece of. all of the withdrawal from afghanistan. you see captain of r t two eight. meanwhile in egypt thousands of...
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Dec 12, 2012
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. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the current quota. we're also looking at the latest report from the international energy agency which may have more of an impact where oil prices are going in this session. they're looking for slightly demand in 2013. and they're pointing to china for the reason. we're anticipating we'll get the report from the energy department at 10:30 a.m. on oil supplies. the expectation is for a slight decline in food supplies. but we did see a major build in the industry report, if that is confirmed we could see these gains short-lived. back to you. >> all right. thank yo
. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the...
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Dec 11, 2012
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melissa: i went down to venezuelaor an opec meeting and it was pretty much a meeting by gunpoint. evenen as media were led around with machine guns basically trained on us the whole time. the whole country was very much in lockdown. >> it has probably gotten worse now. lissa: what does that mean if the person behind all that is suddenly gone? pt seems like it would create quite a vacu. he is speang out for his vice president but no hose? >> compare something to libya. in libya about the only stitution that made sense, that worked l a normal world institution would wk was the state oil company which was know as noc, national oil company. in venezuela its completely different. pedevasa is arm of hugo chavez. how does the venezuelan oil industry stay together and move frward when it has become so completely poticized. the libyans have come back nicely. their production was wre it was before. they had the institution that sort of hu together. they're not going to have that in venezuela. messa: at the same time no one can ignore this country. at the last opec eting, the minister from v
melissa: i went down to venezuelaor an opec meeting and it was pretty much a meeting by gunpoint. evenen as media were led around with machine guns basically trained on us the whole time. the whole country was very much in lockdown. >> it has probably gotten worse now. lissa: what does that mean if the person behind all that is suddenly gone? pt seems like it would create quite a vacu. he is speang out for his vice president but no hose? >> compare something to libya. in libya about...
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and the saudis don't want an iranian in charge of opec. the saudis have had to put forward their own man, as well, to replace him. is there going to be a delay? i spoke toal badri. listen to what he had to say about that and oil prices. >> do not jump to conclusion. let us -- let us hear what the conference will say. >> in terms of the oil price, sir. appears ostensibly everyone's happy with the current price. would you say the storm clouds are brewing in terms of levels of inventories, the amount of supply needed from opec compared to what it's currently pumping? >> when you look at the political situation, the situation in the united states, the fiscal cliff, you look at a lot of factors, there are really -- they contradict each other. i don't know where the price will go up or go down. i think the price will stay the same for next year. i don't think the price will come down. yes, there is some -- maybe 59, maybe 30 million dollars day, five-year average. and that's 30 million barrel only, the five-year average, as far as the stock is c
and the saudis don't want an iranian in charge of opec. the saudis have had to put forward their own man, as well, to replace him. is there going to be a delay? i spoke toal badri. listen to what he had to say about that and oil prices. >> do not jump to conclusion. let us -- let us hear what the conference will say. >> in terms of the oil price, sir. appears ostensibly everyone's happy with the current price. would you say the storm clouds are brewing in terms of levels of...
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Dec 4, 2012
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basically, opec countries. these countries, in my opinion, have been very cooperative. libya, kuwait, uae. they have all helped us contained iran. they have some connection with an 9/11. our relationship with these countries have been very good. >> i think it has been said what you said in your first point. the fact that we may reduce the amount of oil we import, it does not decouple was from the world oil market. canada and norway are both exporters, but their citizens pay of the market price for a gallon of gasoline. we said exactly what you said on your first point. on your second point, the opec nations in being friends of the united states, i think the answer to that is that both sides have had a relationship that has been economically necessary, but i do not think the opec cartel conducts its affairs in a way to benefit the united states of america. they conduct their affairs so that they do not kill the goose that laid the golden egg. if you turn into the record on pages 8 and 9, you're asking for some visual clues as to what's going on here. if you look on page
basically, opec countries. these countries, in my opinion, have been very cooperative. libya, kuwait, uae. they have all helped us contained iran. they have some connection with an 9/11. our relationship with these countries have been very good. >> i think it has been said what you said in your first point. the fact that we may reduce the amount of oil we import, it does not decouple was from the world oil market. canada and norway are both exporters, but their citizens pay of the market...
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as well as the unrest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of impact on oil prices as well as the pentagon's plans to use the world which nation as a hub for its get ground forces in order to build up a countering force to the perceived threat by iran the first wave is home to three u.s. military bases one that's being nice and. all of them in withdrawal from afghanistan as well as all of this. is the captain of our team to a. meanwhile protesters are rallying in egypt against what they call an oppressive regime vying to stop a new constitution seen as undermining democratic freedoms the draft was hastily approved by an islamist dominated assembly on friday which added fuel to the political crisis sparked last week when president morsi issued sweeping new powers journalist bell true explains why protesters are opposing the draft so strongly. basically is that first of all it's drafted by islamist dominated assembly and doesn't represent egypt on top of that it's of course is the sharia law and i've been to it although
as well as the unrest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of impact on oil prices as well as the pentagon's plans to use the world which nation as a hub for its get ground forces in order to build up a countering force to the perceived threat by iran the first wave is home to three u.s. military bases one that's being nice and. all of them in withdrawal from afghanistan as well as all of this. is the captain of our team to a....
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as well as the rest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of an impact on oil prices as well as the pentagon's plans to use the rich nation as a hub for its get ground forces in order to build up a countering force to the perceived threats by iran of course is home to three u.s. military bases and one does think peace in. the goal of winning withdrawal from afghanistan was strong. you see captain of r t two eight. what in egypt is the mists of backing of president morsi have taken to the streets to show this support for the leader this government protesters continue to rally against what they describe as an oppressive regime where your position to block a new constitution seen as undermining democratic freedoms auntie's tombaugh to reports from current. protesters have been camped out into a square since last week since gyptian president mohamed morsi if you decree granting himself sweeping new powers that kicks off a wave of protests by the more liberal sections of egyptian society not just here in cairo but in cities acro
as well as the rest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of an impact on oil prices as well as the pentagon's plans to use the rich nation as a hub for its get ground forces in order to build up a countering force to the perceived threats by iran of course is home to three u.s. military bases and one does think peace in. the goal of winning withdrawal from afghanistan was strong. you see captain of r t two eight. what in egypt...
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quality of life is on the up and up state side what talk about some other economic options and the opec of maple syrup has been robbed millions of dollars worth of the hot commodity has been stolen from canada's maple syrup cartel yes cartel i said maple syrup cartel and those are not my words.
quality of life is on the up and up state side what talk about some other economic options and the opec of maple syrup has been robbed millions of dollars worth of the hot commodity has been stolen from canada's maple syrup cartel yes cartel i said maple syrup cartel and those are not my words.
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gulf monarchies are struggling to fend off the effects of the arab spring as well as the west as an opec member claiming just ten percent of the world's crude oil reserves. pardon me in kuwait any sort of unrest could have major implications for world oil markets moreover it could have major implications for the united states had on has used the country. as a strategic hub for its ground forces kuwait is home to three american military bases and there is talk in washington increasing the ground troop presence here to serve as a counterweight to the perceived threat against iran now we've talked about while kuwait is important for the world but what's really behind this behind and why are people so angry here it's largely deemed to be one of the more liberal more democratic countries among the gulf monarchies but a lot of the critics the ones that are who are boycotting this election say that this democratic be near is then you have to keep in mind that the political parties in this country are not allowed and the unelected emir whose family has ruled the country for two hundred fifty yea
gulf monarchies are struggling to fend off the effects of the arab spring as well as the west as an opec member claiming just ten percent of the world's crude oil reserves. pardon me in kuwait any sort of unrest could have major implications for world oil markets moreover it could have major implications for the united states had on has used the country. as a strategic hub for its ground forces kuwait is home to three american military bases and there is talk in washington increasing the ground...
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Dec 28, 2012
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at the moment, really we've got to see what opec wants to do. last year, the impact of the embargo wasn't -- was like a six week impact and it was forgotten about very quickly. and if you think about it, last year was a very, very steady year for oil prices. wti, as you said, is going to post the lowest rise in several years. in fact, i looked back in my forecast that i had for wti at the beginning of 2012. and it was $111 $a barrel. i moved it down to $110 in the middle of the year thinking it might get a little weaker and poked around and did absolutely nothing. >> i wonder whether the question is going to come back again into the oil markets given that we're looking at the israeli elections coming up in january. but back to the u.s. story, i find it hugely interesting, this notion of u.s. becoming energy independent on its own. do you really think it will happen? because i still talk to a couple of people in the oim and gas industry that say, you know what? it's a far cry from the reality out there. we're still going to see the middle east be
at the moment, really we've got to see what opec wants to do. last year, the impact of the embargo wasn't -- was like a six week impact and it was forgotten about very quickly. and if you think about it, last year was a very, very steady year for oil prices. wti, as you said, is going to post the lowest rise in several years. in fact, i looked back in my forecast that i had for wti at the beginning of 2012. and it was $111 $a barrel. i moved it down to $110 in the middle of the year thinking it...